July 5, 2011

Sao Ta Foods JSC's H1 revenues surge

Sao Ta Foods JSC (FMC), listed on the Hochiminh Stock Exchange, had earnings of US$32.5 million from January-June this year, surging 75% from the same period of the previous year.

In June, the firm produced 700 tonnes of shrimp, making revenues of US$6.4 million.

FMC targets a pretax profit of VND30 billion (US$1.5 million) on revenues of VND1.68 trillion (US$0.1 billion) this year, up 17% and 13% on year, respectively, it said.

In the first quarter, it earned a net profit of VND4.05 billion (US$0.2 million) on revenues of VND299.08 billion (US$14.5 million), up 67% and 68% on year, respectively. The three-month earnings per share (EPS) were VND560 (US$0.027).

Foreigners held a combined 6.76% stake in FMC as of July 1.